LADERA RANCH, Calif .– (BUSINESS WIRE) – December 30, 2021–
Strategic Storage Trust VI, Inc. (“SST VI”), a private real estate investment trust sponsored by a subsidiary of SmartStop Self Storage REIT, Inc. (“SmartStop”), today announced the acquisition of two recently constructed self storage facilities in Bradenton, Fla. and Apopka , in Florida. These are the seventh and eighth acquisitions of SST VI. Since the launch of SST VI in the first quarter of 2021, the fund has purchased approximately $ 85 million in self-storage facilities and self-storage development plots.
“We are extremely pleased to add these superb properties to our portfolio at SST VI and to expand SST VI’s footprint in the State of Florida,” said Wayne Johnson, Director of Investments for SST VI. “We are rapidly building a very high quality portfolio that we believe will create high value and generate strong cash flow for shareholders. “
Located at 2200 Coral Hills Road, the newly constructed property in Apopka, a suburb of Orlando, is comprised of approximately 44,300 square feet of rental space spread over three one-story buildings. This location is well positioned to serve the Paradise Heights, South Apopka, Hiawassee, Forest City, Ocoee and Pine Hills areas and offers good visibility from Highway 414 and Clarcona Road. The property offers a solid mix of units, including air-conditioned interior spaces, controlled air access, non-air conditioned access, and RV / boat spaces. In addition, it is the only storage facility offering temperature-controlled driving units on the submarket. Management plans to add an additional 28,250 rentable square feet with the construction of an additional one-story building.
The Bradenton facility, which opened in October 2020, is located at 6424 14th Street West. It offers approximately 64,400 square feet of rental space, all air conditioned. This location serves the areas of Bayshore Gardens, South Bradenton, West Samoset, Whitfield and North Sarasota and offers excellent frontage and visibility along the heavily trafficked Highway 41. and alarmed doors, closed entrance, LED lighting, air-conditioned driving units and air-conditioned indoor units.
About Strategic Storage Trust VI, Inc. (SST VI):
SST VI is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes. SST VI’s primary investment strategy is to invest in revenue-generating and growth-generating self-storage facilities and related self-storage real estate investments in the United States and Canada. As of December 30, 2021, SST VI has a portfolio of six properties in operation in the United States comprising approximately 3,600 units and 385,000 rentable square feet and two plots of land in Ontario, Canada, on which SST VI intends to develop self-service storage facilities.
About SmartStop Self Storage REIT, Inc. (SmartStop):
SmartStop is a self-managed REIT with a fully integrated operations team of approximately 400 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of December 30, 2021, SmartStop is one of the largest self-storage companies in North America, with a owned and managed portfolio of 162 properties in 19 states and in Ontario, Canada and comprising approximately 109,000 units and 12 , 4 million rentable square feet. SmartStop and its affiliates own or manage 19 self-storage properties in operation in the Greater Toronto Area, totaling approximately 16,200 units and 1.7 million rentable square feet. Additional information about SmartStop can be found at www.smartstopselfstorage.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20211230005262/en/
CONTACT: David Corak
Vice President of Corporate Finance
SmartStop Self Storage REIT, Inc.
KEYWORD: UNITED STATES NORTH AMERICA CANADA CALIFORNIA FLORIDA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER CONSTRUCTION AND REAL ESTATE RESIDENTIAL BUILDING AND REAL ESTATE COMMERCIAL BUILDING AND REAL ESTATE FINANCE CONSTRUCTION AND REAL ESTATE REIT
SOURCE: Strategic Storage Trust VI, Inc. (“SST VI”)
Copyright Business Wire 2021.
PUB: 12/30/2021 13:50 / DISC: 12/30/2021 13:51
Copyright Business Wire 2021.